JOHANNESBURG - China has overtaken the euro area to become South Africa's largest trading partner in manufactured goods, the South African Reserve Bank (SARB) said on Thursday in its September 2026 Quarterly Bulletin.

The SARB said it periodically revises its effective exchange rate (EER) indices to accurately reflect changing trade patterns and developments in the domestic economy, and the EER measures the rand against a weighted basket of currencies of South Africa's major trading partners, with each partner assigned a weight based on its trade relationship with South Africa.

"China has been South Africa's fastest-growing trading partner since 2003, moving from sixth position in the 2003 EER revision to second position in the 2014 and 2020 revisions, and to first position in the 2026 revision. China's trade weight increased from 24.5 percent in 2020 to 28.6 percent in 2026," the SARB said.

Over a longer period, China's weight rose from just 3.1 percent in 1999 to 28.6 percent in 2026, it added. At the same time, the euro area's trade weight declined from 35.7 percent in 1999 to 26.01 percent in 2026, moving it into second place.

South Africa is China's largest trading partner in Africa, while China has remained South Africa's largest trading partner for 17 consecutive years, with bilateral trade reaching $53.58 billion in 2025.